Examlex
Which of the following occurs during the second trimester:
AASB 15
An Australian Accounting Standards Board standard on revenue from contracts with customers, specifying how and when to recognize revenue and the related costs.
IFRS 15
The International Financial Reporting Standard that specifies how and when to recognize revenue from contracts with customers, setting requirements for the disclosure of revenue information.
Contracts
Legally binding agreements between two or more parties that outline terms, conditions, and obligations of each party.
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